Sale by Railway Company or public body (a). As to pur chase by trustees of exclusion Rly Co, the abstract shl commce with the convce to the vendors, dated, &c., & the pchaser shl not call for or investigate the prior title, or make any requon or objon with respt to the powers of the Co, or their compliance with the requiremts of their Acts with refce to the acquison or sale of the ppty comprd in this lot. XX. THE ppty (with other land) was pchased by the vendors in the yr 18—, for the pposes of their undertakg, or, “the pposes authorised by the Act," but is no longer required for such pposes, & as it is the practice of the vendors strictly to investigate the title to all ppty pchased by them, the title to be deduced shl consist exclusively of the deed of convce to the vendors, weh shl be assumed to have been effectual to vest the ppty in them, & it shl also be assumed that they have full power to sell & convey the same. XXI. THE ppty havg been pchased in 18- by the trees of a settlemt & conveyed to the uses [to them upon the trusts] thof, settlement; & havg been aftwds sold under the powers of [trusts of] such of right to settlemt [under the Settled Land Act, 1882], it is stipulated (to abstract of save expse) that the pchaser shl accept the recitals of or refces to such settlemt & the apptmts of new trees thof, wch are contd in the convces exted on the pchase & re-sale of the ppty, as sufft, & shl not require any abstract or make any requon in respt of the sd settlemt & apptmts of new trees. settlement. The same for pur XXII. THE рpty, wch is being sold by the vendors as trees of chase with a settlemt, was pehased in 18- under a power contd in the out disclos- settlemt for the investmt of the trust moy in the pchase of land to be held in trust for re-sale, but was conveyed to the ing trust (b). As to trustees' covenants where trust not disclosed. (a) See note (ƒ) previous page. (b) This course is considered better than to attempt to resell without disclosing the trust, and in the event of a trustee having died, would be necessary to avoid difficulty as to death duties (see infra, CONVEYANCES ON SALE). If the trust is not disclosed, a question arises as to the covenants for title and production, &c., of deeds to be entered into by the trustees; and a condition may be necessary for their protection in these respects, unless they are willing to enter into the usual covenants of beneficial owners, the liability under which in such a case would be little (if anything) more than nominal. The condition might provide that they should only be required to covenant that they respectively have not encumbered, or (which would be practically sufficiently protective), that the liability of each under the covenants for title and further assurance should be restricted to the acts of himself and persons claiming under him, and (as to muniments) that an trees witht disclosg the trust. The pchaser shl be satisfied with a short abstract of the above mentd clause in the settlemt, & of an apptmt of new trees thof in 18-, & shl not make any requon in respt of such settlemt & apptmt. term (c). XXIII. IN the yr a term was assned to attend the Satisfied inhance. The pchaser shl not be entled to investigate the earlier title to the term or to require any evidce or informon, beyond what is afforded by such assnmt or the docs showg the title to the inhance, as to the creation of or prior dealgs with the same, or, "the vendors shl not [except at the pchaser's expse] be required to show the creation of or to trace the title to any term wch has been assned to attend the inhance." manor. XXIV. A SMALL pt of the ppty was formerly waste of the Waste manor of -, & was enclosed with the consent of the homage given at a court baron held on the day of as appears by an entry on the Ct rolls. It shl be assumed that the same thby became indefeasibly vested in fee simple in the pson who made the enclosure. road. XXV. A ROAD boundg a portion of the ppty was in the yr Site of diverted, & the old road or a portion thof togr with a small pce of the adjoing land was thrown into & now forms pt of the ppty in lieu of the land taken for the new road or thby severed from the ppty. No objon or requon shl be raised in respt of such diversion on the ground of any insufft authority for makg the same, or orwise as to the vendors' title to the old road or the small pce of land. XXVI. THE ppty offered for sale consists of the bldgs & site known for many yrs past as & the sale is made under the authority of the Board of Charity Commrs. The vendors shl not be bound to furnish any abstract of title, or to produce any deeds or evidce of title other than a copy of an order of the sd Board apptg the vendors to be trees of the charity, & vestg the legal este in the ppty in the Official Tree of Charity Lands, & a copy of anor order of the same Board sanctiong undertaking for safe custody should not be required. Such a condition (in whichever form) would not put the purchaser on enquiry as to the existence of a trust, or oblige the vendor to answer the enquiry if made. (c) See the Satisfied Terms Act, 8 & 9 Vict. c. 112; Dart, V. & P. 576. (d) See note, post, under CONVEYANCES, as to sales of charity lands. Sale of charity land (d). K.E.-VOL. I. S As to roads the sale to the pchaser, wch shl be accepted as a sufft title. XXVII. Every pchaser shl be satisfied with such roads & rts and rights of way to the ppty as at psnt exist, witht requirg any evidce of the grt or rt of user thof. of way. Registered title (a). Express incorporation of statutes (c). XXVIII. THE рpty is registered with an absolute title under the Land Transfer Act, 1875. The title will consist of a copy of the land certfe, & any evidce of identity or as to boundaries or extent (b) wch the pchaser may require shl be at his own expse [or, & the pchaser shl assume that the description contained in the register is conclusive as to the boundaries & extent of the land]. XXIX. THE vendors will deliver to the pchaser an abstract of their title to the ppty, & deduce a good title thto, subjt to the combined operon of the Vendor & Pchaser Act, 1874, & the Conv & Law of Ppty Act, 1881, & these condons. Old lease (e). III. LEASEHOLDS (d). 1. THE pchaser shl be furnished with an abstract of the lease, dated, &c., under wch the ppty is held, & of an assnmt of such lease, dated, &c., & the subsequent title, & shl not question the validity of the lease, or make any objon or requon in respt of the intermed ate title to the premes betn the lease & the sd assnmt, notwg any recital of, or referce to such title contd in the assnmt or any subsequent doc, but shl assume (a) See the Act, 38 & 39 Vict. c. 87. (b) See s. 83 (5) which provides that the registered description of the land" shall not be conclusive as to boundaries or extent." This provision renders it very unsafe to buy building plots where the land is registered owing to the risk of some former owner having retained a narrow slip of frontage adjoining the road. See 11 Law Quarterly Review, p. 364. (c) This could of course only be required in exceptional cases, as the Acts apply, unless excluded expressly or by implication. (d) See above, p. 225 et seq. (e) See Frend v. Buckley, L. R. 5 Q. B. 213; Williams v. Shargo, [1893] W. N. 100, 1 Dart, V. & P. 335, above, p. 226. that the sd assnmt vested in the assnee a good title for the residue of the term. leaseholds. II. THE abstract shl commce, as regards the vendors' [or Renewable leasehders'] title, with a lease dated in 1850 ; & the pchaser shl not make any requon or objon resptg the earlier leasehders' title or the title of any of the lessors, nor require any evidce, beyond what appears on the lease, that the lessee of 1850 was the owner of the whole intt in the prevs lease thby expd to have been surrendered; & inasmuch as the lessors on each renewal require the surrendered lease to be delivered up, the pchaser shl be satisfied as regards such surrendered lease with the prodon of a doc purportg to be a copy or draft thof, & shl not require any proof of the surrender thof beyond what appears in such new lease. is sold. III. No objon shl be taken, or indemnity required on acct of Underthe lease or agrmt under wch the ppty [any lot] is held being lease; or where part an underlease, or agrmt for an underlease, or on acct of [such only of the lease, or agrmt, or] the superior lease, comprisg other ppty in the lease property besides the ppty sold [such lot] or being at a larger rent than the underlease or agrmt [or on the ground of the lessor not havg concurred in any apportionmt or exclusive chge of rent], or by reason of any variance betn the covts, provons, & condons in the superior lease & the underlease or agrmt or for any other reason connected with the superior lease. IV. THE abstract shl commce with the superior lease & The same. the pchaser shl not call for, or make any requon or objon concerng the title of the superior landlord, or require any proof of the pformce of the covs & condons contd in the superior lease. Perform V. THE prodon of the last rect for the rent (witht proof Receipt for being required of the title or authority of the pson givg the rent. same) shl be conclusive evidce that all rent under any ance of superior lease has been pd, & that all the covts & condons covenants in the lease or agrmt for lease to wch such rect refers & in every superior lease have been pformed & observed, or that all breaches thof (whether past or continuing) have been effectually waived or sanctioned up to the time of the complon (ƒ) See as to this condition, p. 226; Lawrie v. Lees, 7 App. Cas. 19, 32, 38; 26 Sol. J. 445. (f). The same where rent nominal or charged on other property (a). Non-execution of lease by one lessor. Former assign ments without license. License to of the pchase, whether it shl appear that the lessors or reversioners were cognisant of such breaches or not: [AND in parlar no objon or requon shl be made on the ground that the insce of any of the premes is not accdg to covt, & the vendors shl not be required to rectify any insce or to effect any fresh insce.] VI. IT shl be assumed witht evidce that [all rent accrued due under the lease has been pd, & that] all the covts & condons in the lease have been duly pformed & observed or that any breach thof has been effectually waived up to the complon of the pchase. VII. ONE of the ten trees of the Charity, who are lease of, &c., refd to in the parlars, The pchaser shl not on this ground question the validity or require any confirmon of the lease, but shl accept as sufft evidce of validity & existce thof the prodon of a rect for the last half yr's rent accrued due prior to the complon of the pchase. VIII. LOTS are held under leases from the Co. wch contain restrons agst alienon or underlettg witht license, & also require that all writgs relatg to the premes shd be prepared by the clerk of the lessors. The pchasers shl not make any objon or requon in respt of any dealgs with the leases appearg to have taken place witht license or in respt of the insufficiency of any license, or on acct of any instrumts relatg to the premes not appearg to have been prepared by the clerk of the Co. IX. THE lease of lot contns a restron agst alienon or assign (b). underlettg witht the license of the lessor. The pchaser shl not enquire into the title of the pson by whom the license (wch will be procured by the vendors at their own expse) may purport to be signed, or his rt to grt the same, nor make any objon or requon resptg the sufficiency or form of such license. X. A LICENSE from the respive lessors to assn the leases Purchaser [of lots & -] being necy, the vendors will endeavour to obtain such licenses at their own expse, but in case any The same. to take underlease if neces sary, (a) See Re Moody, 28 Ch. D. 661; 30 Ch. D. 344; above, p. 226. (b) As to when the licence should be obtained, see Ellis v. Rogers, 29 Ch. D. 661. Unless the lease contains an express provision to the contrary, no fine for such license is now payable, 55 & 56 Vict. c. 13 s. 2. |